EPC Construction India Limited filed MA-417/2018. NLC India Limited and Axis Bank Limited are the respondents. The Bombay High Court directed the NCLT to pronounce an order within four weeks following a writ petition. The core issue is whether NLC India Limited can invoke a 'Performance Bank Guarantee'. The I&B Petition moved by the Financial Creditor has already been admitted, CIRP has commenced, the Resolution Professional has taken over the charge of the Corporate Debtor, and the Resolution Plan is also approved. The applicant sought relief that the court determined falls outside the purview of Section 14 of the Insolvency and Bankruptcy Code. The court considered precedents related to bank guarantees and their invocation.

EPC Construction India Limited filed MA-417/2018. NLC India Limited and Axis Bank Limited are the respondents. The Bombay High Court directed the NCLT to pronounce an order within four weeks following a writ petition. The core issue is whether NLC India Limited can invoke a 'Performance Bank Guarantee'. The I&B Petition moved by the Financial Creditor has already been admitted, CIRP has commenced, the Resolution Professional has taken over the charge of the Corporate Debtor, and the Resolution Plan is also approved. The applicant sought relief that the court determined falls outside the purview of Section 14 of the Insolvency and Bankruptcy Code. The court considered precedents related to bank guarantees and their invocation.